Johannesburg and New York listed petrochemicals firm, Sasol, on Monday said it had posted a robust operational performance in the first nine months of the current financial year (2014) despite the mixed macroeconomic climate in its areas of operation.

“In the last quarter, oil prices remained flat, compared to both the first six months of the current financial year, as well as the comparable period in the previous year,” Paul Victor, acting CFO at Sasol, said on Monday.

“We continue to advance our various growth projects, which will enable us to produce increased volumes over the near to medium term. Cash flow generation remains strong, maintaining our ungeared position and providing us with a solid platform from which to fund various growth opportunities,” Victor continued in a trading update.

Last week, South Africa’s Competition Tribunal fined a Sasol unit, Sasol Chemicals Industries (SCI), R533 million ($50 million) for over-charging its South African customers high prices for polypropylene and propylene products.

But Sasol on Friday said it is reviewing the decision by the Competition Tribunal and was also exploring other options available to it, including involving other pertinent participants on what other steps should be taken going forward.

Elsewhere on Ventures

Triangle arrow